Dynamism returns to Hong Kong retail with World Cup windfall

The overnight crowds watching the showdown between Spain and Argentina at Chinese teahouse Lin Heung Lau and some shopping centres last week stood in stark contrast to the post-Covid trend that saw shops and restaurants close earlier than they used to in the evening. The five-week football frenzy reportedly brought the local catering industry a HK$500 million (US$63.8 million) windfall.

With spending habits, opening hours and expectations changing fast following the pandemic, businesses were smart to capitalise on fans gathering inside malls. Some set up booths to offer bubble tea or deliver dim sum directly to the viewing area. A supermarket chain also stayed open overnight while taxis lined up at entrances to pick up passengers after the match.

The message is clear. People are still keen to stay out late. Those attracted to live-streaming inside larger venues spanned generations. They were drawn not only by football but also by the experience of having fun together. The World Cup business boom showed that there are still moneymaking opportunities as long as businesses put on their thinking caps.

Indeed, nightlife need not be confined to bars and other hotspots. Nor is it incompatible with senior citizens and families seeking entertainment. The success some restaurants and malls had calls into question the assumption that certain foods and occasions belong only to certain times and places. When a teahouse becomes a live-screening venue for sports, and a shopping centre turns into a midnight fan zone, creativity is the only limit on businesses making money.

The lesson applies beyond sports. Retailers and restaurateurs would do well to rethink how they present themselves during festivals, concerts, cultural celebrations, New Year countdowns, pop-up markets and community events. The same success can be replicated on other occasions and elsewhere as long as the experience offered to customers is compelling enough.